We have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note:
1. Strong winds and mild temperatures will certainly reduce energy demand.
2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
1. Strong winds and mild temperatures will certainly reduce energy demand.
2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
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